XPeng stock pops 10% as the EV maker reveals its G9 SUV

XPeng stock pops 10% as the EV maker reveals its G9 SUV
2 months ago
2 mins read

XPeng Inc. (NYSE: XPEV) unveiled its fully electric SUV, the G9, today, August 11, before officially launching in China this September.

Some of the main distinguishing features of this model include its ultra-fast charging capabilities along with its Dynamic Aesthetics design with a wraparound interior that is aimed at car enthusiasts looking for a luxurious interior look and feel. 

Furthermore, XPeng G9 has a peak motor power of 405 kW (front: 175 kW; rear: 230 kW) and a peak torque of 717 Nm. 

After releasing the news, XPEV stock popped at marker open and is currently up 10.48% at the time of writing. 

XPEV chart and analysis

In the last month, XPEV has been trading in the $22.03 to $30.44 range, with negative short-term and long-term trends. XPEV is one of the lesser performing stocks in the Automobile industry, with 60% of 30 stocks in the same niche performing better. 

As per technical analysis, the support line is located at $24.47, and the resistance is at $30.85. 

XPEV 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

Analysts on Wall Street rate the shares a strong buy, predicting that in the next 12 months, the shares could reach an average price of $37.10, which is 47.11% higher than the current trading price of $25.22 notably none of the analysts advocate to sell.

Wall Street analysts’ price targets for XPEV. Source: TipRanks  

XPEV has seen whipsaw action throughout August, mostly due to downgrades but also the delivery numbers the firm posted. 

Despite the day-to-day gyrations of the market, the news of a new, highly anticipated SUV model could be a boon for the stock, and the current rally could represent the beginning of another leg higher for XPEV. 

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Dino Kurbegovic

Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building a micro solar power plants in his hometown.